Amanda, age 6, opens a lemonade stand. She makes all the lemonade from a mix she found in her parents' pantry. Her stand is an old box she found in the garage. The pitcher and paper cups were taken from the kitchen. Which of the following is true?
a. The opportunity cost of the lemonade is zero.
b. The only opportunity cost of the lemonade is Amanda's time.
c. Amanda's explicit costs are zero.
d. The implicit costs of Amanda's lemonade are zero.
e. Whatever revenue Amanda gets will be pure economic profit.
C
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The excess of government purchases over tax collections is:
A. national income. B. national saving. C. the government budget deficit. D. national wealth.
Eisenhower's conservative policies were characterized by budget surpluses that produced further declines in price levels
Indicate whether the statement is true or false
Which of the following statements is true?
a. Derived demand for labor depends on the demand for the product labor produces. b. Unions can either increase demand or decrease the supply of labor. c. Investment in human capital is expected to increase the demand for those workers. d. All of these.
The highest marginal tax rate for the federal income tax in the United States is
a. 10 percent b. 28.3 percent c. 35 percent d. 45.4 percent e. 50 percent